FedEx Corporation $FDX Shares Purchased by Candriam S.C.A.

Candriam S.C.A. grew its holdings in FedEx Corporation (NYSE:FDX) by 28.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,096 shares of the shipping service provider’s stock after acquiring an additional 8,811 shares during the period. Candriam S.C.A.’s holdings in FedEx were worth $11,473,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Ferguson Wellman Capital Management Inc. raised its holdings in shares of FedEx by 3.2% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider’s stock valued at $296,000 after purchasing an additional 26 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of FedEx by 11.9% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider’s stock valued at $101,000 after purchasing an additional 30 shares during the last quarter. Avior Wealth Management LLC lifted its stake in shares of FedEx by 2.6% in the 2nd quarter. Avior Wealth Management LLC now owns 1,361 shares of the shipping service provider’s stock valued at $426,000 after purchasing an additional 34 shares during the last quarter. CLG LLC lifted its stake in shares of FedEx by 3.8% in the 1st quarter. CLG LLC now owns 952 shares of the shipping service provider’s stock valued at $339,000 after purchasing an additional 35 shares during the last quarter. Finally, GRIMES & Co WEALTH MANAGEMENT LLC boosted its holdings in FedEx by 2.9% in the third quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 1,231 shares of the shipping service provider’s stock worth $351,000 after purchasing an additional 35 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Weiss Ratings downgraded shares of FedEx from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, October 29th. Bank of America reduced their price target on FedEx from $378.00 to $359.00 and set a “buy” rating for the company in a research report on Tuesday, October 27th. UBS Group reiterated a “hold” rating on shares of FedEx in a research note on Friday, October 30th. Evercore upped their price target on FedEx from $350.00 to $351.00 in a research note on Monday, September 28th. Finally, HSBC raised FedEx from a “hold” rating to a “buy” rating and set a $370.00 price objective on the stock in a report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $359.16.

FedEx Price Performance

NYSE FDX opened at $318.72 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 1.29 and a debt-to-equity ratio of 0.50. The company has a fifty day simple moving average of $302.64 and a 200 day simple moving average of $337.42. The company has a market cap of $74.64 billion, a P/E ratio of 19.60, a P/E/G ratio of 1.33 and a beta of 1.27. FedEx Corporation has a 1 year low of $202.95 and a 1 year high of $345.36.

FedEx (NYSE:FDX) last posted its earnings results on Wednesday, October 28th. The shipping service provider reported $3.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.34 by $0.40. The business had revenue of $22.93 billion for the quarter, compared to analyst estimates of $22.73 billion. FedEx had a net margin of 4.09% and a return on equity of 15.53%. FedEx’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the business posted $3.83 EPS. On average, sell-side analysts predict that FedEx Corporation will post 18.29 EPS for the current year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 14th were paid a $1.22 dividend. The ex-dividend date was Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. FedEx’s payout ratio is presently 30.01%.

Insider Activity

In related news, EVP Tracy Brightman sold 26,611 shares of the business’s stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $316.68, for a total transaction of $8,427,171.48. Following the completion of the transaction, the executive vice president owned 12,245 shares of the company’s stock, valued at approximately $3,877,746.60. The trade was a 68.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gina Adams sold 3,014 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $317.06, for a total value of $955,618.84. Following the sale, the executive vice president owned 9,656 shares of the company’s stock, valued at approximately $3,061,531.36. The trade was a 23.79% decrease in their position. The SEC filing for this sale provides additional information. 0.65% of the stock is currently owned by insiders.

FedEx Profile

FedEx Corporation is a global transportation and logistics company that provides delivery, freight, and supply chain services to businesses and consumers. Its offerings include express and ground package delivery, freight transportation, customs clearance, and logistics solutions that help customers manage shipping and distribution.

Founded by Frederick W. Smith in 1971, FedEx began operations in 1973. The company serves customers throughout the United States and in international markets, connecting businesses and consumers through its transportation and delivery networks.

FedEx is headquartered in Memphis, Tennessee.